News: Portfolio 2010

TetraLogic Expands Series C Financing with New Investor Pfizer Ventures

Pfizer Ventures invests $5 million increasing total Series C funding to $37 million

Malvern, PA, September 27, 2010 – TetraLogic Pharmaceuticals, a biopharmaceutical company developing novel small molecule drugs to treat cancer, today announced that Pfizer Ventures has joined the syndicate of Series C investors with an investment of $5 million, increasing the amount of the Series C financing to $37 million. The initial Series C financing closing of $32 million was announced by TetraLogic Pharmaceuticals on August 10, 2010. The Series C financing was led by Clarus Ventures and included new investor Hatteras Venture Partners and existing investors Amgen Ventures, HealthCare Ventures, Latterell Venture Partners, Novitas Capital, Quaker BioVentures and the Vertical Group.

 

Proceeds from the financing will be used to advance clinical development of TL32711, TetraLogic’s lead drug candidate for the treatment of cancer. TL32711 is a SMAC mimetic that